CZBank reports steady 2024 growth, proposes dividend

China Zheshang Bank (CZBANK) reported a 6.18% increase in operating income, reaching RMB67.702 billion for 2024, with net profit attributable to shareholders up 0.92% to RMB15.186 billion. The bank proposed a cash dividend of RMB1.56 per 10 shares. Total assets grew to RMB3.33 trillion, while the non-performing loan ratio improved to 1.38%. CZBANK successfully underwrote Zhejiang local government bonds. It’s non-interest income surged by 38.86%, reaching RMB22.545 billion. The board have outlined plans for compliant operations and customer-focused reform, supported by significant investments in technology and a commitment to supporting the local Zhejiang economy.